EtherMail founder and CEO Shant Kevonian said Stripe’s $1.1 billion acquisition of Bridge, a stablecoin API provider, is a pivotal moment in bridging the Web2/Web3 divide.
Kevonian said the move is the latest step in the ongoing convergence of the crypto and fintech markets – giving expression to the growing importance of stablecoins within the broader financial ecosystem. He said roughly 30% of global remittances are now facilitated through stablecoins, reflecting their growing utility in cross-border transactions. Crypto adoption is rising in Sub-Saharan Africa, driven largely by its ability to facilitate streamlined remittances, which are often slow and expensive through traditional channels. Additionally, the region has high mobile phone penetration, making crypto accessible via mobile apps.
“As traditional Fintech companies like Stripe, known for its payment processing services, embrace blockchain-based solutions, it signals a deepening integration between decentralized technologies and mainstream financial systems,” Kevonian explained.
Last year, PayPal launched its dollar-backed stablecoin, designed to facilitate more efficient cross-border transactions while improving transparency and security. Kevonian has also seen tech heavyweights like Visa, Square, and Mastercard develop stablecoin projects.
The stablecoin market cap, currently sitting at $172 billion, is approaching an all-time high, signalling strong demand for digital assets and increased participation in the ecosystem. Kevonian said that also speaks to the accumulation of crypto capital in USD form, which can be quickly converted into digital assets.
“Bridge’s stablecoin API simplifies the process of integrating stablecoins into everyday transactions, reducing volatility concerns that have historically limited cryptocurrency adoption for payments,” Kevonian said. : With this acquisition, Stripe will be allowing businesses to seamlessly transact in stablecoins while benefiting from the efficiency, lower costs, and global accessibility that blockchain technology offers.
“The move also highlights the increasing demand for crypto-fiat interoperability, especially as cross-border payments and DeFi gain traction. Looking forward, Stripe’s acquisition sets the stage for more fintech and crypto companies to collaborate, potentially accelerating the development of crypto payment infrastructure.”
For EtherMail, Kevonian said this aligns with the company’s mission to provide a familiar and easy entry point for Web3 exploration, delivering solutions that make the Web2/Web3 transition as seamless as possible.
“In this industry, there have been so many vague proclamations about bringing the next billion users into the space,” Kevonian added. “However, this goal will always hit a glass ceiling when the learning curve for engaging with the technology remains so steep for non-Web3 participants. We want to simplify the user experience to the point where people don’t even think about the underlying blockchain infrastructure.”
EtherMail recently launched its Email-as-a-Wallet (EaaW) solution, enabling users to create non-custodial wallets through Gmail or Apple accounts in under one minute. Kevonian said email as a wallet provides a familiar and easy entry point for users to explore the Web3 space, allowing them to circumvent the steep Web3 learning curve. The solution allows users who currently don’t have a digital wallet to access Web3 services as well as seamlessly buy, send and receive digital assets. Email as a wallet also includes a ‘know what you sign’ feature, allowing users to review transaction details as an email before signing the transaction.
So why does Email-as-a-Wallet matter, Kevonian asked. To date, the complexity of engaging with Web3 services and setting up a crypto wallet has presented significant challenges for Web2 users, who are confronted with the concept of private keys and complicated security practices, which can make the entire process overwhelming and off-putting. This steep learning curve, coupled with a lack of user-friendly tools, has proven to be a major issue in terms of driving Web3 adoption.
“By allowing Web2 users to create non-custodial wallets through Gmail or Apple accounts in less than one minute, we want to facilitate a frictionless gateway to Web3, broadening the accessibility of blockchain-based applications and services to billions of users worldwide who currently don’t have a digital wallet,” Kevonian concluded. “Once they’ve created their Web3 email account, users can easily buy digital assets from within their inbox without having to leave the platform, greatly reducing the friction of navigating a digital assets exchange.”